A council property purchased for below market price due to the current tenants (or prospective buyers) having inhabited said property for a certain length of time, usually a minimum of 5 years. The level of discount is in correllation with the duration of tenancy and also upon what local council happens to be the landlord.

"Oh my gosh, how you afford such slick yard bruv?"

"We been here for time init, council hooked us with one dem buyrites!"